China Merchants Heavy Industry will set up a joint venture with Singapore-based Dyna-Mac, a supplier of FPSO modules, to better develop the construction of high-end offshore equipment such as FPSO.
On April 9, China Merchants Heavy Industry and Dyna-Mac Offshore Engineering (Shanghai), an indirect wholly-owned subsidiary of Dyna-Mac, signed a joint venture agreement to set up Dyna-Mac Marine Heavy Industry (Jiangsu).
The registered capital of the joint venture is US $1.5 million. China Merchants Heavy Industry will invest 735000 US dollars and hold 49% shares of the joint venture. Dyna-Mac Offshore Engineering (Shanghai) will invest 765000 US dollars and hold 51% shares of the joint venture.
Dyna-Mac said the joint venture would give it access to China Merchants Heavy Industry' s infrastructure, while experts from China Merchants Heavy Industry will be able to draw on the company's experience and knowledge in the specific business area, the FPSO module.
China Merchants Heavy Industry Group is a business sector focusing on offshore engineering equipment manufacturing, with two shipyards of China Merchants Heavy Industry (Jiangsu) and China Merchants Heavy Industry (Shenzhen).
Dyna-Mac is a global contractor responsible for the engineering, procurement, manufacturing, construction and onshore pre commissioning & commissioning of FPSO, FSO, FLNG, FSRU, and facilities of fixed platform.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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